UPDATE: Don’t Ignore the Tax Consequences of the Patient Protection and Affordable Care Act

We recently posted an article concerning the self employment tax. Passage of President Obama’s healthcare legislation, the Patient Protection and Affordable Care Act, which the President signed into law on March 23, is cause for an update.

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Be Sure to Review Your Estate Plan in Order to Ensure Consistency with Recent Estate Tax Changes

You are doubtless aware that the failure of Congress to extend the federal estate tax and generation-skipping transfer tax system before January 1 of this year has created a great deal of uncertainty.

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Misrepresentations As to Work Performed by Contractors Only Support Action for Breach of Contract and Not Fraud

The Supreme Court of Virginia recently applied and reaffirmed the rule that representations as to performance of duties imposed by contract, although unquestionably deliberate and false, only support recovery of compensatory damages based on breach of contract and not punitive damages based on fraud. Dunn Construction Company, Inc., v. Cloney, 278 Va. 260 (2009).

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